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. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisco 44, monterey bay
the fiscal cliff could affect you. first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend less on fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores. >> the bowl game is all decked-out for the game this afternoon against the u.s. navy academy and arizona state. everyone's spirits are high and the game is bringing a boost for the local economy. >> many are here for an extended weekend. >> two teams really excited to be here and their fans are excited to be here. gosh, i think we are filling up all the hotels in san francisco. >> 33,000 tickets have been sold for the match-up. at&t park can take 40,000 so not at capacity yet. organizers believe it will be another banner year for the hunger goal. it's brought the city more than $130 million over the past 11 years. that's an average of
the fiscal cliff. leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main ruptured crews were >> number three, secretary of state clinton, still in the hospital this morning. getting treated with blood thinners for a blood clot. the clot was found yesterday during a follow-up exam. the secretary suffered a concussion from a fall ii >> number four, stanford cardinal will make a final run through in pasadena opponent wisconsin appearing in its third straight rose bowl. they hope taylor will -- taylor -- >> number five, plenty of transit options from new year's eve revelry bart will run trains until 3:00 tomorrow morning, tree to ride muni 8:00 tonight -- free to ride muni 8:00 tonight. bart is not free. >>
with fukushima daiichi -- to deal with the fiscal omq= cliff issu. retailers are doing a better job of controlling inventories, macy's and abercrombie & fitch don't have as much merchandise leftover they need to clear out.÷s+0t netflix trying if get more social, it is waiting for president obama to sign a bill passed by congress that removes restrictions on companies sharing video rental history, once it is allowed to do that netflix users will be able to share information with >m facebook that is business news live at the new york stock exchange, ellen brightman, bloomberg . >>> mike is here with a look at the forecast and our little bitty break. >> you are coming up with a lot of neat technical terms. little bitty break, like that.wy the rain. can see cloud cover starting to open up=/w, as we k down to the south from our roof cam at the embarcadero center with the lights still on, ferry building to the bay bridge, good news, no rain out of these clouds. doppler tracking waiting for anything to fall, it is not going to happen. no rain, so thin they will dissipate as we head throu
moves closer and closer to the brink of that fiscal cliff with massive spending cuts and tax hikes set to automatically kick in. they are trying to come up with a last minute compromise. president said any bipartisan bill would have to extend unemployment benefits affecting some 2 million americans. it would also have to increase taxes on the highest income earners. >> just can't afford a politically self-inflicted wound to our economy. the economy is growing, but keeping it that way means that the folks you sent to washington have to do their jobs. >> the president's proposal to raise taxes on the top two percent of americans won't even pay one-third of the annual interest that's now owed on the massive $16 trillion debt. >>> the house returns tonight just one day before a deal needs to be reached. it's likely negotiators will be burning the midnight oil as the clock ticks down to 2013. >> much more on the fiscal cliff this morning on abc's "this week i charles shumer of new york and republican senator john kyle of arizona debate the last-minute efforts. that's coming up at 8:00 this
Search Results 0 to 4 of about 5